JK Lakshmi Cement Targets 30 Million Tonnes Capacity by 2030, Advocates for GST Reduction to 18%
At the ‘Bihar Business Connect 2024’ meet, JK Lakshmi Cement President and Director, Arun Shukla, urged the government to consider reducing the Goods and Services Tax (GST) on cement from the current 28 percent to 18 percent in the upcoming Budget. This reduction, according to Shukla, would significantly boost the consumption of cement, a vital component for infrastructure development across India.
Shukla emphasized that cement plays a pivotal role in driving economic growth, particularly in the construction of world-class infrastructure. He further stressed the long-term benefits of cement concrete roads, citing their cost-effectiveness and superior durability compared to bitumen roads. In a bid to capitalize on the growing demand for cement, JK Lakshmi Cement is investing ₹5 billion in a new manufacturing facility in Madhubani, Bihar, which is expected to be operational within the next year. Shukla commended the Bihar government for its proactive support and fiscal incentives, describing the collaboration as “amazing.”
As part of its expansion strategy, JK Lakshmi Cement, a member of the JK Organisation, has set an ambitious target to increase its annual cement production capacity from 18 million tonnes to 30 million tonnes by 2030. The company is on track to add 12 million tonnes in various regions, in response to an expected annual demand growth of 7-8 percent. In addition to its cement operations, the JK Organisation is exploring potential investments in other sectors, including tyre and paper manufacturing, reflecting its diversified growth strategy.
